Blog

19

by Davis Hsu

Homebuyers are creeping back into the residential real estate market in 2019, with pent up demand and improving interest rates. In fact, January pending sales in the NWMLS area were down only 3.2% year over year, and January 2018 was a very strong seller’s market considering the seasonality of the winter months. Buyers are finding a more receptive environment in a more balanced market, where…

26

by Heidi

CLOSED SALES ARE DOWN Most of the general public in the greater Pacific Northwest is now aware that residential real estate inventory is up. I mentioned that in last months post. This month I want to talk about how sales are down. Attached is a chart of all closed sales since January 2000 in the King, Snohomish, Pierce and Kitsap counties. These figures include both SFR…

02

by Heidi

You’ve heard of the Stone Age, right? And the Gilded Age, and the Bronze Age? Well, we live in the Internet Age, a time when knowledge is no longer centralized and guarded by elite gatekeepers but is dispersed, widespread, and available to anyone with a mouse to click or an app to tap. But there is a drawback to this. The democratization and decentralization of…

06

by Veristone Blogger

A premier Veristone client executed a successful fix and flip on this Lynnwood property located close to I-5 and local amenities. The 1,379 square foot home has 3 bedrooms, 2 bathrooms, and a number of new features that transformed it from two small units, to a beautiful single family residence. This house now boasts, an updated and upgraded kitchen with gorgeous granite and stainless steel…

06

by Veristone Blogger

Even though experts in the market agree that rates will likely increase slightly in 2017, they also agree that this will not have a negative impact on the Northwest real estate market. Lawrence Yun, chief economist for the National Association of Realtors, shared that historically, a rate increase to 4.5% (the expected high point for 2017) would still be a ‚Äúfavorable rate‚Äù. ‚ÄúWe are getting…

29

by Veristone Blogger

If you are an investor with a fix and flip close to completion, you’re likely to be happy about the strong Northwest housing market. Factors like short supply, high demand and increasing prices are all good things for a seller. However, these factors can make it more difficult if you are an investor looking to source your next deal. In the current market, there are…

23

by Veristone Blogger

According to the Northwest Multiple Listing Service (NWMLS), figures for November show a 13.2 percent drop in inventory of single family homes and condominiums. For the 4-county Puget Sound region there is only 1.22 months of supply, with King County having the lowest level at under a month (0.96). There was a 9.4 percent gain in pending sales, a 31.3 percent spike in closed sales,…

21

by Veristone Blogger

Veristone would like to congratulate Sandra Lambrecht! In early 2016, Sandra set-out on a plan to renovate an 85-year-old Queen Anne Tudor-style home. Having been with Sandra at the beginning of this project, we can verify that the property needed more than a little TLC. Sandra boldly embarked on a plan to renovate the structure down to the studs, in many areas, while paying careful…

29

by Veristone Blogger

If you are considering getting into real estate investing, making the decision to “go for it” isn’t always easy. For many, it’s all about focusing on that first single step – don’t worry about the whole staircase! You don’t need to be an expert in real estate investing when you do your first deal. Recognizing the value of focusing on one step at a time…

18

by Veristone Blogger

Thanks to having strong partners in the real estate business and eye on the market, Retha McCutchen was able to acquire an ideal fix and flip in the Cully neighborhood of Northeast Portland. With the help from her partners in the real estate business, knowing the neighborhood and aligning with quick financing from Veristone, Retha was able to jump on this opportunity. It was worth…